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Exclusive: Pepperfry to secure fresh funds from existing investors

EntrackrEntrackr · 9m ago
Exclusive: Pepperfry to secure fresh funds from existing investors
Medial

Exclusive: Pepperfry to secure fresh funds from existing investors Omnichannel furniture brand Pepperfry is raising Rs 43.3 crore (approximately $5.1 million) from existing investors including General Electric Pension Fund, Norwest Venture Partners, Goldman Sachs, Panthera Growth Partners, and others. This funding follows its $23 million round raised in September 2023 from the same investors. The Pepperfry’s board passed a resolution to approve the issue of 5,59,463 compulsory convertible preference shares at an issue price of Rs 775 each to raise the aforementioned sum, its regulatory filings accessed from the Registrar of Companies (RoC) show. General Electric will lead the funding with Rs 21.5 crore ($2.5 million) followed by Norwest Venture Partners and Panthera Growth Partners who will infuse Rs 8.52 crore and Rs 6.45 crore, respectively, to increase their stakes in the company. Goldman Sachs, Erste WV Gutersloh GmbH, and Growth Equity Opportunity Fund Cayman Holdings Ltd will cover the rest of the funding amount. According to the filing, the company will utilize the proceeds from this funding for growth, expansion, and general corporate purposes. As per Entrackr estimates, Pepperfry will be valued at Rs 3,120 crore or $367 million (post-allotment). Pepperfry operates on a marketplace model across both online and offline channels. Offering a catalog of over 10,000 products, it connects customers with leading brands like Godrej, Springfit, and Spacewood. The company claims to have a retail presence of more than 200 studios spread across 100+ cities. According to startup data intelligence platform TheKredible, the Mumbai-based company has raised over $270 million to date from investors including Norwest Venture Partners, General Electric, Broad Street Investment, Pidilite, and others. For the fiscal year ending March 2024, Pepperfry’s operating revenue declined 30% to Rs 189 crore while narrowing its losses by over 37% to Rs 117.5 crore during the same period. Pepperfry competes with other heavily funded furniture brands including Reliance-acquired Urban Ladder, which secured over $100 million in funding, and Wooden Street, which raised $77 million funding.

Exclusive: Pepperfry to raise $18 Mn funding in down round

EntrackrEntrackr · 15d ago
Exclusive: Pepperfry to raise $18 Mn funding in down round
Medial

Exclusive: Pepperfry to raise $18 Mn funding in down round Omnichannel furniture brand Pepperfry is raising Rs 158.4 crore (approximately $17.6 million) in a funding round led by Morde Foods and SageOne Investments, with participation from Newage Global Ventures, F3 Advisors, and 50 other investors, including angel investors such as Indian cricketer Shreyas Iyer. This funding follows its $5.1 million round raised in June 2025 from existing investors, including General Electric Pension Fund, Norwest Venture Partners, Goldman Sachs, and Panthera Growth Partners. The board of Pepperfry passed a resolution in January last month to approve the issue of 40,51,174 equity shares at an issue price of Rs 391 each to raise the aforementioned sum, according to its regulatory filings accessed from the Registrar of Companies (RoC). Morde Foods will lead the funding with Rs 25 crore ($2.77 million), followed by SageOne Investments and Newage Global Ventures, which will invest Rs 20 crore and Rs 14.8 crore, respectively. Angel investors Sidharth Iyer and Vikas Arora will infuse Rs 15 crore and Rs 8.25 crore, respectively. The remaining amount will be contributed by 49 other investors, including Indian cricketer Shreyas Iyer. Notably, according to the filing, the company has already received Rs 105 crore ($11.7 million) of the total funding, with the balance expected shortly. The funding will be used to expand business operations, support subsidiaries and group entities, meet working capital needs, and for general corporate purposes, the filing added. As per Entrackr estimates, Pepperfry’s valuation is expected to fall by 44% to Rs 1,661 crore ($185 million) post-allotment, down from Rs 2,979 crore ($330 million) in its previous $5.1 million round in June last year. Founded in 2011, Pepperfry operates on a marketplace model across both online and offline channels. With a catalog of over 10,000 products, it connects customers to leading brands such as Godrej, Springfit, and Spacewood. The company reports a retail presence of more than 200 studios across 100+ cities. The Mumbai-based company has raised over $275 million to date from investors including Norwest Venture Partners, General Electric, Broad Street Investment, Pidilite and others. Following a 30% decline in operating revenue, Pepperfry’s revenue fell another 14% in FY25 to Rs 163 crore from Rs 189 crore in FY24. However, the company managed to reduce its losses by 27% to Rs 85 crore during the period. Pepperfry competes with other well-funded furniture brands, including Urban Ladder, acquired by Reliance and backed by over $100 million in funding, and Wooden Street, which raised $77 million.

Rentomojo raises $25 Mn led by Edelweiss

EntrackrEntrackr · 2y ago
Rentomojo raises $25 Mn led by Edelweiss
Medial

Rentomojo, a furnishing rental brand that provides furniture, appliances, and fitness categories on a monthly rental basis, has secured an investment of Rs 210 crore (approximately $25 million) in its ongoing Series D and D1 round. The round is led by Edelweiss Discovery Fund Series – I, with participation from existing investor Chiratae Growth Fund, as well as Magnetic, founded by Rajeev Chitrabhanu. The firm last raised Rs 145 crore as a part of Series C round in November 2021. This latest round of funding from investors serves as a launchpad, propelling the company to continue to lead the creation of the appliances and furniture rental category in India, said the company’s founder and CEO Geetansh Bamania. Headquartered in Bengaluru, Rentomojo operates in 16 cities and has served close to 450,000 customers since its inception. The company has also built relationships with most of the prominent lenders across the country to serve the increasing demands of the increasing customer. In addition to its focus on an online channel, Rentomojo has established offline experience centers across all major pin codes of Bengaluru. Rentomojo claims to have been profitable for the last 10 quarters. As per startup data intelligence platform TheKredible, Rentomojo registered a revenue of Rs 121 crore in FY23 compared to Rs 98.6 crore in FY22. During the period, the firm turned profitable with Rs 6.19 crore profit against Rs 13.5 crore loss in the previous fiscal year. It competes with Furlenco, Rentickle, Cityfurnish, and to some extent Pepperfry. In July last year, Sleepwell-parent Sheela Foam signed an agreement to acquire 35% stake in Furlenco. The deal roughly values the Bengaluru-based company at around Rs 857 crore (over $100 million). Pepperfry also raised $23 million in September last year and announced the appointment of new CEO following the demise of the company’s long-time CEO Ambareesh Murthy.

Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report

EntrackrEntrackr · 10m ago
Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report
Medial

Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report Home furniture and sleep solutions company Wakefit has selected three investment banks to help with its plans to go public. According to a Moneycontrol report, the company has chosen Axis Capital, IIFL Capital Services, and Nomura to guide its initial public offering (IPO). Wakefit is expected to file draft papers for the IPO in the coming months. As per the report, the company aims to raise between Rs 1,500 crore and Rs 2,000 crore ($200 million). It has not yet decided how much will be raised through new shares and how much will be sold by current investors. So far, Wakefit has raised more than $100 million (around Rs 850 crore) from investors such as Peak XV Partners, Paramark Ventures from South Korea, and Verlinvest from Europe. Some of these early investors may sell their shares in the IPO. Wakefit started as a mattress company but later began selling other furniture like beds, tables, and chairs. As per TheKredible, Wakefit’s revenue from operations increased by 21% to Rs 986.4 crore in FY24, as compared to Rs 812.6 crore in the previous fiscal year. The firm managed to control its losses by 90% to Rs 15 crore from Rs 145 crore in FY23. Wakefit competes with companies like SleepyCat, Duroflex, Pepperfry, IKEA, and Woodenstreet in India’s furniture and sleep product market.

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation

EntrackrEntrackr · 3m ago
Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation
Medial

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation Modular furniture maker Spacewood Furnishers has raised Rs 300 crore ($36 million) from A91 Partners at a valuation of Rs 1,200 crore ($135 million). The investment gives A91 Partners a minority stake and will support expansion, brand building, and operations. Spacewood plans to scale from 35 exclusive stores to 100 stores across India over the next few years. Founded by Kirit Joshi and Vivek Deshpande, Spacewood manufactures modular furniture for homes and offices. The company works through an omnichannel model with exclusive stores, a dealer network, and online platforms. The company runs a manufacturing facility of about 1 million sq. ft. with panel processing and sheet metal capabilities. Its dealer network covers over 500 partners across 150 towns and cities. In 2011, Nitin Sudame set up the office furniture division under Spacewood Office Solutions (SOS). SOS has supplied office furniture to over 1,000 corporates and developers. Spacewood targets group revenue of Rs 700 crore for FY26. It aims to grow 25–30% annually over the next five years with a focus on profitability. Its clients include Accenture, Capgemini, HDFC, Adani Group, and several educational institutions. Sumai Doors works with over 200 real estate developers, including Godrej Properties, DLF, Lodha, M3M, and Kolte Patil. Spacewood operates in the modular furniture market competing with brands such as Godrej Interio, IKEA, Homelane, Pepperfry, Wurfel, and Urban Ladder.

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